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Home Press Nexter Systems signs acquisition agreements for the companies Mecar and Simmel Difesa with Chemring Group

Nexter Systems signs acquisition agreements for the companies Mecar and Simmel Difesa with Chemring Group

Versailles, 24 April 2014Nexter Systems signed acquisition agreements with Chemring Group for all the shares of the companies Mecar (Belgium) and Simmel Difesa (Italy) on 23 April 2014. These two transactions will enable Nexter Group to strengthen its ammunition division and establish its position among the European leaders in this area.

Based on its solid past performance and on its strong balance sheet, Nexter has developed a growth strategy and intends, when opportunities arise, to actively participate in industry consolidation. The two acquisitions constitute a unique growth opportunity for Nexter group, which will enrich its range of ammunition products in three domains - land, air and sea ammunition - and extend its commercial footprint on key export markets.

The ammunition division will be comprised of complementary companies, focused on their core business, relying on the skills of their employees, and benefiting from synergies generated by their being part of Nexter Group.

This strengthening of the ammunition division will enable accelerated development of new products and expansion of the customer base; ammunition design and production facilities will also be strengthened.

This important step opens new perspectives and confirms the key role of the group in the momentum of European consolidation‘, declared Philippe Burtin, Chairman and CEO of Nexter Systems.

Mark Papworth, Chief Executive of Chemring Group, added: ‘I am very pleased with today’s news of this disposal, which is in line with our strategy of focusing on our core skills. I am delighted that we have been able to sell these businesses to Nexter Group, who are well placed to maximize their full potential’.

These acquisitions remain subject to the satisfaction of conditions precedent, of which the agreement of the shareholders of Chemring and approval from the Italian authorities.

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